Top 5 Business Resolutions for the New Year

The new year is the perfect time to review progress and set goals for the year ahead, especially for small business owners.

New year’s resolutions are helpful to set goals, break down tasks and focus on them, improve productivity and boost sales!

Here are some examples of new year’s resolutions for business owners to have a successful 2021.

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#1 Situation Analysis

Before you can get started with setting goals, you need to know your current situation. What are your business strengths and weaknesses for now? What are potential opportunities and threats this year?

If you are working on content marketing or sell something online, use software like Monsterinsights is a good idea to understand your business’s current situation. MonsterInsights is a plugin that allows you to easily add, customize, and manage Google Analytics on your WordPress site. It’s one of the best user-friendly WordPress analytics plugins in the market.

For example, MonsterInsights allow you to insights into user’s behaviors like which product they purchased, which newsletter they signed up for, which PDF files they downloaded, and so on.

These are very helpful to build marketing strategies too! MonsterInsights also provide Year in Review Report. It’s a limited-time report only available between January 1 and January 14.

Year in Review Report includes:

  • Top 5 pages and their pageviews
  • Top keywords that got the most clicks
  • Yearly revenue
  • Product sold
  • Most popular product
  • highest earning product

and more!

I use MonsterInsights and the Year in Review Report was really helpful to review my site.

#2 Write SMART Goals

After you’ve reviewed your current situation, now is the time to write your SMART goals! Setting your goals is an effective method for clarifying your motivations and setting a clear direction.

The letters of SMART stand for:

  • Specific: crystal clear goal
  • Measurable: the goal needs to be measurable/countable like make $100 a day
  • Attainable: be realistic
  • Relevant: it needs to be related to your business
  • Time-Bound: set due date

The last one, “set due date” is very important but don’t forget to be “realistic.” If your “Time-Bound” is unrealistic, you’ll burn out easily. “Constantly” is the king of success. Make sure your business goals are realistic to keep continue doing them for a year.

#3 Set Budget

Before you apply SMART goals into your business, you have to know your budget! For example, I compared multiple social media marketing tools before starting a blog. (prices, features, full-refund policy, customer supports, etc) To promote this blog, I needed a social media marketing tool.

My blogging income is very little, so I signed up for the most affordable social media marketing tool. Setting a budget for your business size!

Check the Ultimate List of Tools & Resources for Online Business here.

#4 Build an Email List

Did you know? Email marketing is the most profitable direct marketing channel. Global email users amounted to 3.9 billion users and it will grow to 4.3 billion users in 2023. (1) That’s almost half of the world’s population! In addition, email marketing allows you to reach people 24 hours a day, 365 days a year.

No matter how small your business is, email marketing is a great strategy to grow your business.  This is one of my business resolutions in 2021!

#5 Improve Experience

User experience is something your customer “feels” while browsing websites, interacting with a system or service, using a product, etc. If you have a website, speedy page loading can be a good user experience. If you are selling something online, customer service like live chat can be a good user experience.

Note: Google Search and Ads teams announce that site speed is now used as a ranking factor. (2) Website and page load speed may affect Google rankings!

Wrapping Up

These are my top 5 business resolutions for the New Year! How about you? It’s February but not too late to create business resolutions for the New Year (:

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Resources:

  1. Statista. (2021, January 25). The number of e-mail users worldwide 2017-2024. https://www.statista.com/statistics/255080/number-of-e-mail-users-worldwide/
  2. Speed is now a landing page factor for Google Search and Ads | Web. (2019, September 23). Google Developers. https://developers.google.com/web/updates/2018/07/search-ads-speed#:%7E:text=The%20Search%20team%20announced%20speed,performance%20using%20our%20speed%20tools.

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